India, May 4 -- Inseego and Nokia have signed an agreement under which Inseego will acquire Nokia's Fixed Wireless Access (FWA) customer premises equipment business, subject to customary closing conditions.

The transaction is expected to nearly double Inseego's revenue and expand its wireless broadband portfolio across fixed wireless, mobile broadband and cloud-managed connectivity for consumer and business markets. It will also extend the company's international presence.

Under the agreement, Nokia will receive an equity stake of about 7% in Inseego through common stock and warrants, representing a value of USD 20 million.

At the close of the transaction, Nokia also plans to make an additional investment of USD10 million in Inseego th...